Obtaining a Safe Debt Consolidation Program

Firms that have a well-established history of performing quality debt consolidation work for their clients are the best choices for those who are seeking to work with a safe debt consolidation program. You can easily research the background of a consolidation firm, and it is in your best interests to be alert to warning signs as you consult with any service that offers their assistance.

An expert in debt consolidation is aware of this and conducts business in a manner consistent with this attitude. Ask the professional you are working with to slow down the pace of questions if you think you are being pressured into offering too much personal information too quickly. In the event that you continue to feel rushed, you should move on to the next service. Eventually you will have to give your personal information in order to get the paperwork processed, but at the beginning, you can give them that information only when you are ready.

When meeting with a debt counselor, you should ask plenty of questions. If they are unable to answer or struggle with finding an answer, they may not be experienced enough with their consolidation knowledge.

The most secure debt consolidation plan is one that gives you a sense of ease in every aspect. As a consumer, you are responsible for doing business with experienced and reputable companies.

Debt Consolidation Program FAQ

Question: Bank loan or debt consolidation program for credit card payoff?

Answer: A consolidation loan is the ideal solution. The interest rate will be lower than credit cards are charging, the minimum monthly payment would be less and you could probably double up on the monthly payments in order to reduce the effective rate and settle the debt quicker.
A consolidation loan will not hurt your credit rating.
If you do not qualify for a full consolidation go for as much as possible and resolve outstanding high rate cc debt as soon as possible.

Debt consolidation programs are often registered on your credit report and should not be used unless you can not resolve the problem on your own. Entering into a debt consolidation program should be a last resort.

Question: Is it possible to add traffic tickets to a debt consolidation program?
I am about to go nuts, I am in very serious debt and to add to it i have outstanding traffic tickets. I was considering debt consolidation but what I’m wondering is if i can add the tickets to the debt consolidation plan?

Answer: No. Student loans, child support, traffic violations, all these you cannot wish away with a debt consolidation program, which is mainly for credit card debt, personal loans and a few other types of unsecured debts.

Question: What is a good debt consolidation program?
One that actually works.I’m afraid to put my money into these people if they aren’t really going to help. I’m only about 1,000 to 2,000 dollars and debt. I wanted to see who is actually on these programs and if they actually work from experiences.

Answer: With your amount of debt, hiring a debt consolidation program is not necessary. These places charge you for their services!

The best thing you can do is pay off your debts, one at a time. Pay regular minimums on all but one item. On the item you are paying off at the time, pay as much extra on it as you can per month.

Question: What is the best debt consolidation program around?
I am $30, 000 in debt with high %rates and $1000 a month minimum payments. ANy ideas for consolidation program

Answer: The last thing you want to do is to run a search on the internet for debt consolidators and get sucked into all of the different websites claiming to hold the key to your financial freedom. Of course if you’re lucky you’ll find a legitimate website to work with, but there’s definitely a chance that you will find yourself in a worse position than when you started.

It’s important to find debt consolidators that run a business in your local area, where you can go meet them and sit down with them to discuss your situation and make sure your decision to do business with them is safe. After all, we’re talking about your livelihood that can either make or break your future.

Question: Can anyone suggest a reputable debt consolidation program?
Or are there other options I should be looking into? I am close to $60,000 in debt and make very little money. I hate to just pick a co. from an ad.

Bankruptcy is not an option available to me.

Answer: There are no “reputable” debt consolidation companies, they are ALL businesses who want to make a profit…Ask yourself how giving them money as well as paying your debts could cost you less than just paying your debts! They are a scam.

Go to the library & borrow a book by Dave Ramsey, it will teach you how best to pay off what you owe.

Question: What is the best debt consolidation Program out there?
I need a program thats not gonna charge me an arm and leg!!

Answer: Honestly, YOU are ……grab the phone, pen and paper, and ALL your credit cards, and a strong cup of coffee…..call them, ask for temporary reduction in interest, lower minimum paymts, whatever you need……

list your creditors in order: smallest balance first ….pay every penny you can…..look under the couch cushion, have a garage sale…..and pay it off fast….Once you have that victory under your belt….you will start to feel a small sense of control..

cancel your cable, long distance…..get a cheaper cell phone plan…Not forever, just until you don’t feel so desperate….

Question: What is the lowest amount of debt that you can owe in order to get into a debt consolidation program?

Answer: About $5,000 – $10,000.

Question: Has anyone used a Debt Consolidation program? Are there any risks?
my husband and i have found ourselves with overwhelming credit card debt….i have looked into debt consolidation programs but my husband says that if you do one of these programs it hurts your credit rating…is that true? does it show up on your credit report? and has anyone participated in one? was it worth it? did it help you? are there any risks??? what company did you go with?

Answer: Join the club!!! We have just started with cccs on a recommendation from my friend. They are a charity you can speak to them and get advice but don’t have to take plan with them. Of course your credit rating will be buggered but do you want to get in this mess again, my husband had the same concerns but we didn’t really have a choice. Any defaults come off after 6yrs and it will take us long to pay off ours!!! They workout a budget with you and work out your disposable income which they use to pay debts. We seem to have more money now than we did before because they allowed more for food etc than I had. Look at there website www.cccs.co.uk. They didn’t judge or anything the lady I spoke to was lovely listened whilst I cried my eyes out etc. They don’t charge anything as they are a charity, you pay them at the start of the month and they pay debtors at end so they get the interest on the money.